Congress

“Having said that, within those two bands, the bigger break was on demographics. So the more senior a member, the more skeptical they're likely to be. And this makes sense, right? If you look at how crypto is used. And the more junior the member, and mostly by …”

“To me, the model is in a place where if Congress doesn't step in and find some sort of way to stabilize this, the whole thing will probably just go professional”

“If you were just in Congress broadly, I would say 90% of members don't understand it at all. They've heard about it, but like they don't know it, right? Maybe their kids use it, grandkids, whatever, but they don't know much about it beyond that.”

“We're getting to a point as a Congress, which is really nice, where I feel like we're getting close to finally legislating on it, specifically around stable coins. We'll see if we get there, but I think that's sort of the first bite of the apple coming off the…”

“What I think you'll probably see is some sort of law that enshrines a quote payment stable coin. That language has been used in a couple of different bills. A payment stable coin as essentially a fiat backed stable coin.”

“And the reason that it's in 46 states is because That way, basically, every member of Congress is incented to vote for it.”

“So the government has to guarantee a two hundred and fifty million dollar loan to Lockheed to keep them afloat, mostly because of the L-Ten-Eleven disaster. It requires a vote of Congress to do this.”

“And so with software, it actually took until 1980. Congress changed the law. We'll put a link in the show notes to like the literal congressional change that happened. And it is in Title 17, Copyrights, Chapter One, Subject Matter and Scope of Copyright. In 19…”

“So in October, Congress actually passed a law to allow this merger and grant yet another antitrust exemption. This time, Lyndon Johnson signed it into law.”